McDonald's bets on China expansion

In a response to sluggish growth, Oak Brook, Ill.-based McDonald’s Corp. is looking to build stores across Asia, specifically targeting China to help spur a boost in revenue.

As part of its most aggressive buildout in a decade, the fast-food company expects to spend $3 billion on 1,600 new stores around the world this year, with 300 of those locations being in China. Last year, McDonald’s built 250 in China, and the 2014 activity quadruples the number of new stores it built in the country in 2004.

Following this year’s store openings, China would be home to more than 2,000 McDonald’s locations, more than any other country except the U.S. and Japan. In China, KFC is the biggest American fast-food chain with 4,400 stores.

Analysts say the buildout is smart, but should have come sooner, according to Crain’s Chicago Business.

Read more from Crain’s Chicago Business.